[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1226 Introduced in House (IH)]

112th CONGRESS
  1st Session
                                H. R. 1226

 To repeal the affordable housing goals for Fannie Mae and Freddie Mac.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             March 29, 2011

 Mr. Royce (for himself, Mr. Bachus, Mr. Garrett, Mr. Pearce, and Mr. 
 Hensarling) introduced the following bill; which was referred to the 
                    Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
 To repeal the affordable housing goals for Fannie Mae and Freddie Mac.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``GSE Mission Improvement Act of 
2011''.

SEC. 2. REPEAL OF AFFORDABLE HOUSING GOALS.

    (a) Repeal.--The Federal Housing Enterprises Financial Safety and 
Soundness Act of 1992 is amended by striking sections 1331 through 1336 
(12 U.S.C. 4561-6).
    (b) Conforming Amendments.--Federal Housing Enterprises Financial 
Safety and Soundness Act of 1992 is amended--
            (1) in section 1303(28) (12 U.S.C. 4502(28)), by striking 
        ``and, for the purposes'' and all that follows through 
        ``designated disaster areas'';
            (2) in section 1324(b)(1)(A) (12 U.S.C. 4544(b)(1)(A))--
                    (A) by striking clauses (i), (ii), and (iv);
                    (B) in clause (iii), by inserting ``and'' after the 
                semicolon at the end; and
                    (C) by redesignating clauses (iii) and (v) as 
                clauses (i) and (ii), respectively;
            (3) in section 1338(c)(10) (12 U.S.C. 4568(c)(10)), by 
        striking subparagraph (E);
            (4) in section 1339(h) (12 U.S.C. 4569), by striking 
        paragraph (7);
            (5) in section 1341 (12 U.S.C. 4581)--
                    (A) in subsection (a)--
                            (i) in paragraph (1), by inserting ``or'' 
                        after the semicolon at the end;
                            (ii) in paragraph (2), by striking the 
                        semicolon at the end and inserting a period; 
                        and
                            (iii) by striking paragraphs (3) and (4); 
                        and
                    (B) in subsection (b)(2)--
                            (i) in subparagraph (A), by inserting 
                        ``or'' after the semicolon at the end;
                            (ii) by striking subparagraphs (B) and (C); 
                        and
                            (iii) by redesignating subparagraph (D) as 
                        subparagraph (B);
            (6) in section 1345(a) (12 U.S.C. 4585(a))--
                    (A) in paragraph (1), by inserting ``or'' after the 
                semicolon at the end;
                    (B) in paragraph (2), by striking the semicolon at 
                the end and inserting a period; and
                    (C) by striking paragraphs (3) and (4); and
            (7) in section 1371(a)(2) (12 U.S.C. 4631(a)(2))--
                    (A) by striking ``with any housing goal established 
                under subpart B of part 2 of subtitle A of this 
                title,''; and
                    (B) by striking ``section 1336 or''.
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